Question

1. Company Y has had a successful year in completing the Project A. At the end of the current fiscal year, its assets, liabilities, revenues and expenses are exhibited in Table Q2.

1. Construct the Balance Sheet of the Company Y.
2. Determine the owners’ equities at the end of the current fiscal year.

Table Q2. Data of company Y.

Items	Ringgit Malaysia (RM)
Account payable	250,000.00
Account receivable	600,000.00
Accumulated depreciation-equipment	705,000.00
Accumulated depreciation-building	1,050,000.00
Administrative expense	50,000.00
Building	102,000.00
Cash	500,000.00
Cast of goods sold	150,000.00
Depreciation expense-building	300,000.00
Depreciation expense-equipment	300,000.00
Equipment	1,001,000.00
Inventory	150,000.00
Insurance expense	30,000.00
Interest expense	20,000.00
Long-term loans outstanding	45,000.00
Research and development	70,000.00
Salaries payable	290,000.00
Sales revenue	40,000.00
Supplies expense	100,000.00
Taxes expense	120,000.00
Taxes payable	10,000.00
Utilities expense	20,000.00

Answer 1